Zoetis, ShopRite making Morris County Business News

Zoetis reports third quarter earnings

FLORHAM PARK: Zoetis Inc.reported revenue of $1.1 billion for the third quarter of 2013, an increase of 8 percent from the third quarter of 2012. Revenue reflected an operational increase of 9 percent with foreign currency having a negative impact of 1 percentage point.

Net income for the third quarter of 2013 was $131 million, or $0.26 per diluted share, a decrease of 19 percent, compared to the third quarter of 2012. Adjusted net income for the third quarter of 2013 was $172 million, or $0.34 per diluted share, an increase of 12 percent and 10 percent respectively, compared to the adjusted third quarter of 2012.

Adjusted net income for the third quarter of 2013 excludes the net impact of $41 million, or $0.08 per diluted share, for purchase accounting adjustments, acquisition-related costs and certain significant items.

"With three quarters now reported in our first year, I am pleased with how we are meeting our commitments to customers, delivering financial results and setting a solid foundation for our future," said Zoetis Chief Executive Officer Juan Ramón Alaix. "We continue to build on the commercial performance, innovative R&D and reliable supply chain that have been critical to our success, while managing through all the changes that come with standing up a new company."

ShopRite to open in Hanover with many amenities

HANOVER: ShopRite will hold a grand opening of its newest store, ShopRite of Greater Morristown, located at 178 E. Hanover Ave., on Sunday.

The store will be owned and operated by Village Super Market, Inc. which also owns and operates 28 additional ShopRite stores in New Jersey, Maryland and Eastern Pennsylvania. A ribbon cutting ceremony with members of the Sumas family and town dignitaries will be held at 9 a.m. along with a $10,000 check presentation to the Community Food Bank of New Jersey.